Last minute: Increase in car prices! The highest price increase in 2022… ‘It will increase even more’ – The right address for financial news

Last minute hike news came for car buyers. In May, an average of 27 percent increase was observed in the second-hand online passenger and light commercial vehicle market compared to the previous month. This increase was recorded as the highest price increase in 2022. With the increasing demand, second-hand car prices are expected to increase again in the coming days.

“PRICES CAN INCREASED FURTHER”

According to OYDER President Altuğ Erciş, automobile prices, which have increased exponentially, may increase further in the coming period.

Erciş said, “At the moment, we cannot see where the exchange rate is going, and the numbers may increase in the coming period with the increasing inflationary effects. The fact that the Russia-Ukraine crisis lasts for two or three months may cause this supply to become problematic for two more years.”

According to the data compiled by AA correspondent from Indicata’s second-hand online market report, 188 thousand 764 sales were realized in the second-hand online passenger and light commercial vehicle market in Turkey last month (when the vehicles that have been completely removed from the advertisement are considered sold).

While sales decreased by 1.4 percent compared to April, there was an increase of 67 percent compared to May of last year and 29 percent when the average of the last 3 years is considered.

MORE THAN HALF OF THE VEHICLES ANNOUNCED ARE SOLD

Last month, the share of passenger cars in second-hand online sales was 82 percent, and the share of light commercial vehicles was 18 percent.

The number of vehicles advertised in the second-hand online passenger and light commercial market reached 323 thousand 780 in May. 58 percent of the vehicles advertised were sold.

PRICES INCREASED

According to the analysis made by examining the price changes of 100 thousand advertisements of 2 thousand 543 variants belonging to 258 models of the first 32 brands with the highest sales in the second-hand market in the 2010-2021 model years, an average of 27 percent increase in the second-hand online passenger and light commercial vehicle market in May compared to the previous month. observed. This increase was recorded as the highest price increase in 2022.

SHARE OF HYBRID AND AUTOGAS SALES EQUALIZED

When Turkey’s second-hand online passenger and light commercial market is evaluated according to engine type, diesel cars had the highest share in May, with 117 thousand 6 units of sales and a share of 62 percent.

Diesel cars were followed by gasoline with 65 thousand 456 sales and a share of 34.7 percent, and hybrid cars with a sales of 2 thousand 829 and a share of 1.5 percent.

The share of autogas cars was 1.5 percent with 2,808 sales, and the share of electric cars was 0.4 percent with 665 sales.

MOST C SEGMENT SOLD

Last month, the most C segment vehicles were sold with 62 thousand 549 units. After the C segment, the highest sales were realized in the B segment with 34 thousand 467 units.

Vehicles between the ages of 0 and 4 had the highest share of sales in the second-hand online passenger and light commercial vehicle market, with 35.7 percent. Then, vehicles between the ages of 5 and 10 with a share of 35.4 percent and vehicles over the age of 11-17 with a share of 28.9 percent were listed.

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KILOMETER PREFERENCES IN SALES

Looking at the mileage breakdown of the vehicles sold, the highest share of sales was 66 percent, with vehicles at 90 thousand kilometers.

This was followed by cars in the 0-30 thousand kilometers band with a 15 percent share, 60-90 thousand kilometers with a 10 percent share, and 30-60 thousand kilometers with a 9 percent share.

MORE THAN 450K USED VEHICLE DATA IS ANALYSED DAILY

Indicata, a business intelligence kit that combines machine learning, artificial intelligence and big data, analyzes more than 450 thousand used vehicle data daily by scanning the used online vehicle market in Turkey.

The sales data in the report is based on the advertisement data of more than 40 thousand institutions and organizations engaged in second-hand trade in the online market. These include listing sites such as sahibinden, Arabam, Letgo, and VavaCars, as well as corporate second-hand websites of OEMs, institutions and platforms where high volume sales are made, such as Leaseplan, Intercity and Otokoç. The figures do not contain data on individual vehicle advertisements.

Institutions that trade second-hand on the online platform are withdrawing the advertisements of the vehicles they offer for two reasons.

First, it revises the prices of the vehicles in the advertisement according to the changing market conditions and publishes the advertisement again. Indicata also monitors when these ads are re-published. Secondly, the trading institution withdraws from the ad because it has sold its broker and publishes an ad for a broker that it will re-sell. This second group of vehicle advertisements, that is, vehicles that are completely removed from the advertisement, are considered as “for sale”. (AA)

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